The value of the long-term debt is $5,400, when firm has current assets of $23,000 and current liabilities of $12,200. Donner united has total owners' equity of $18,800.
Long-term debt = $36,400 - $18,800 - $12,200 = $5,400
An obligation to pay money or another agreed-upon value to a third party, the creditor, is known as a long-term debt. Debt differs from an immediate purchase in that payments are deferred or made in installments. A sovereign state or nation, a local government, a business, or an individual may be liable for the debt. Contractual provisions governing the sum and schedule of principle and interest repayments often apply to commercial debt. long-term Debt includes mortgages, bonds, notes, and loans.
Debt, as opposed to equity, is a form of financial transaction in financial accounting. The phrase can also be used metaphorically to refer to duties of a moral nature and other interactions without a monetary exchange.
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